Nov. 24, 2014: Construction Backlog Indicator Reaches Another All-Time High
2015 Will Likely Be a Strong Year of Recovery for the Nation’s Nonresidential Construction Industry
WASHINGTON — The Associated Builders and Contractors (ABC) announced that its Construction Backlog Indicator (CBI) reached a new all-time high during the third quarter of 2014 at 8.8 months, eclipsing the previous all-time high of 8.5 months set in the second quarter of 2014. The 2014 third quarter backlog is 6.9 percent higher than the third quarter of 2013 and the continued growth of backlog during the last six months likely indicates that 2015 will be a strong year of recovery for the nation’s nonresidential construction industry, said ABC.
“Every region of the nation experienced expanding backlog during the third quarter and so did every industry segment,” said Anirban Basu, ABC chief economist. “Recent data regarding nonresidential construction and employment has shown only sporadic gains, which is consistent with the less optimistic backlog readings registered earlier this year. But the last two quarters tell a positive story that the average nonresidential contractor in America is positioned to get busier.